News Column

Indian Rupee Recovers Against US Dollar

June 12, 2014

NEW DELHI (Alliance News) - The Indian rupee bounced off from its early low against the US dollar in later deals on Thursday.

The rupee was trading around 59.22 per greenback, up from its previous low of 59.37. The next possible upside target for the rupee lies around the 58.6 zone.

India's industrial production for April and CPI for May are due shortly.

Factory output is expected to increase 2% on year in April, after falling 0.5% in March. Consumer price inflation may probably ease to 8.4% from April's 8.59%.

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Source: Alliance News

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